Tuesday, August 6, 2013

Nifty Achieves Upside Target of 5944 in July '13 and Downside Target of 5532 in August '13

Well this small post is out of rejoice for the forecast given at the end of June '13 in this post

Nifty has achieved both upside and downside targets. BankNifty achieved the downside target but unfortunately did not meet the upside target.

Tata Steel and JP Associates in delivery based buying fizzled out.

So Trading + Investing put together in the last 2 months helped gain about 600 points on Nifty and lose 30 points on Tisco [in equity segment] and 15 points on JP [in equity segment] so on balance a pretty good result.

Where will the carnage end and when will the relief rally come; I really don't know and the same will be updated on Twitter [you can get the feeds in the top left side of this blog or follow @NiftyParadox]

To summarize, one need not take a position every day; one needs to thoroughly study the charts and price-volume patterns. As I have been repeatedly saying, out of the 200 odd trading days in a year, only about 50 days come with large 250+ point moves in either direction of Nifty. The only ones who get rewarded in the long run are those who sharpen their weapons and take positions at those opportune time-price movements. See the ticker for as long as you want but take fewer positions and garner those points.

Enjoy this wonderful song: http://www.youtube.com/watch?v=TBP5kFOsqO8

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